Indian producers hike local PP, PE prices on high import values

04 March 2011 10:13  [Source: ICIS news]

SINGAPORE (ICIS)--Indian producers have hiked prices of polyethylene (PE) and polypropylene (PP) by up to Indian rupee (Rs) 3,000/tonne ($66.7/tonne) on the back of higher import prices and manufacturing costs, market sources said on Friday.

Persistently firm upstream ethylene and propylene values also lent further support to the price hikes, sources said.

Prices of all PP grades were hiked by Rs3,000/tonne, with prices of raffia grade PP now at Rs88,500/tonne DEL (delivered), injection grade PP at Rs88,300/tonne DEL and film grade PP at Rs89,500/tonne DEL.

Prices of all PE grades, meanwhile, were hiked by Rs1,500/tonne.

Prices of high density polyethylene (HDPE) and low density polyethylene (LDPE) were hiked to Rs77,000/tonne DEL and Rs96,700/tonne DEL respectively, while linear low density polyethylene (LLDPE) prices were increased to Rs78,500/tonne DEL.

Prices of imports continued to hover above domestic price levels despite the price hikes.

HDPE film imports rose by $20/tonne to $1,400-1,430/tonne CFR Mumbai from a week earlier while raffia grade PP was assessed $10-30/tonne higher at $1,600-1,640/tonne CFR Mumbai.

"The price disparity between domestic goods and imports are about $70-100/tonne for polymers," a key trader said.

Nurluqman Suratman contributed to this story

($1 = Rs45.00)

For more on PP and PE, visit ICIS chemical intelligence

By: Ong Sheau Ling
+65 6780 4359

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